Tips for a No Spend Day or Week or Month

Have you ever had a no spend day or week? Ever told yourself that you wouldn’t touch those credit cards?

If you haven't and you’ve been struggling to save money and manage your spending, you should consider freezing your spending for a few days to reset your finances and generate some savings .

Incorporating a spending freeze into your schedule can be quite healthy for your finances especially when you feel overwhelmed with it all. One way to do this is by adding a no spend day or week into your monthly budget.

These tips will help you get prepared and maximize the best results!

Be Prepared

In order for your no spend period to be successful, you must be prepared.

A no spend period might actually include some spending on necessary items, such as gas or groceries.

The key is to eliminate any extra spending during this time frame.

While this might sound silly, downgrade to a smaller wallet like this one. It's amazing how many cards you don't really need to keep in your wallet or use. This also helps cut down on temptation to use a credit card!

Determine the length the no spend period will last – a day, week or even month

If you are a beginner, I would start with a small goal. This leads to more success!

This could include a no spend day or weekend or my personal favorite, a no spend work week.

I find it easiest for myself to save money during the workweek. I always pack my lunch and enjoy the coffee my work provides.

After work, instead of stopping at the grocery store to grab a couple things, I'll head home instead and eat the groceries I already have.

If you are really looking to jumpstart your savings or pay off debt, you can really ramp up your spending freeze and challenge yourself to a no spend month.

This is a great idea if you overspent the previous month and you are looking to get your finances back to normal.

How to save money if you can't do a no spend day or week

Can’t do a no spend week right now? No problem. When holidays, birthdays and travel are coming up, it can be difficult to do a spending freeze and you don’t want to set yourself up for failure.

If you need to spend money in certain areas of your budget, you can still reduce your costs and perhaps earn a little money back as well. One of the best ways to make any money from shopping is using Ebates.

Ebates pays you a percentage back when you make a purchase online.

While I have to do some online shopping, I always use Ebates first because they pay cashback on purchases from hundreds of retailers. Plus, they help you hunt down coupons that you can use to reduce the price of your order.

Each quarter, they deposit all of your cash back earnings into your PayPal account. Yippee for free money!

If you are new to Ebates, claim your $10 now (either in the form of a $10 GC to places like Target or $10 off a $25 purchase!)

Ibotta

This cell phone app helps you make money off your grocery receipts. Yup, for real! You use it after you go grocery shopping and use your receipt. It’s basically a rebate app, so you can earn anywhere from 50 cents to $5 off everything you buy.

My favorite part about Ibotta is that it’s not always brand specific, like a lot of coupons are. So you’ll be able to scan “any brand of bread” for 50 cents off, etc. If you do coupon – you can STILL use Ibotta and get a rebate.

For the diehard couponers out there, this will often result in getting an item for FREE. When you sign up, you will receive a $10 cash bonus when you make your first scan!

If you are going to shop, you might as well make money doing it.

Get creative to help you achieve a no spend day or week

If you’re able to carve out time to go on a spending freeze and are fully committed, that’s great! One of the hardest parts during the no spend challenge can be figuring out how to use what you have. This is where a bit of creativity can really pay off!

Reassess your wants and needs

By saying no to everything for a set period of time, you can really get an eye opening experience on where you really value spending money and how you might have been wasting it this whole time.

Plus, you learn how to work with what you have.

Instead of spending money all the time as a solution, you may find that you can fix something so you can use it again.

You can also DIY instead of hiring someone, or just simply do without and be content with that decision.

How to proceed after the no spend day or week ends

This is an important period. You don't want to fall back into any bad spending habits or go on a shopping binge to make up for several days without spending anything.

This is a good time to look at how much money you saved during your no spend period as well.

What do you plan to do with your savings? Are you going to transfer it to your savings account or use the extra money to pay off some bills? Will you put it toward debt?

After you decide what you’re going to do, take action immediately and put the extra money toward a worthy cause.

Start saving, even if it’s only a few dollars a week

Whether you want to start an emergency fund or a vacation fund, you have to start setting some money aside. If you’re like most people and struggle with saving, you should consider using Digit.

I’ve just started using this app and love it. Digit lets you save money each week from your checking account. What I really like about Digit is that it analyzes my bank account and determines how much I can really save per week.

Some weeks it might be $5 and other times it might be $20. You don’t have to worry about overdraft and can contribute less or more if you need to. As of now, I don’t know an easier way to save money! You can learn more about Digit here.

Make money instead

If having a no spend period seems tough or if you don’t want to do it often, consider trying to make money instead.

Increasing your income will provide you with more money to add to your budget. You can pay off debt quicker, and catch up financially at a faster rate. There are so many things you could do to earn extra income.

Take surveys while at home or on the go

This is one of the best ways to make money that won't cost you anything to get started! I have made thousands of dollars over the past few years taking surveys online and participating in research studies.

Not all surveys are created equal. I have weeded through a ton of companies to figure out which ones pay the best. Here's a few to choose from!

Turn your home or bedroom into an AirBnB

If you have a room or even a home to spare, turning your space into an AirBnB can have amazing results. I have friends that have switched from renting out a room in their house to using it as an AirBnB and are making so much more money!

With a renter, you get a fixed monthly rate and usually enter into a month-to-month contract or one year lease. As an AirBnB host, you can often times make more income in one week via AirBnB than an entire month of rental income.

Side hustle

I have made more than $4,500 in one year in my spare time thanks to side hustling. If you have something you would like to share with your readers that can help them – whether it's mentally, financially or physically – go for it.

Side hustling is great because it allows you to earn extra money by doing flexible tasks and monetizing your skills. You can drive for Uber or become an Uber Eats Driver during your spare time, walk dogs or pet sit, sell items on eBay, or even start your own online virtual assistant business.

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Have you ever tried a no spend day or week?

About Kristin Larsen

Hi, I'm Kristin! I left my day job three years ago to pursue my passion for blogging and creating an online business for myself. Now I get to share my journey with you! Grab a cup of coffee or a glass of wine and stay awhile. I'm so glad you're here! READ MORE

Comments

I should start this challenge/activity for myself. Before, when my salary comes once in a month, by the 4th week after the payday I rarely go out to spend zero amount. Sometimes I stay at my moms or grandmas to be able to get free meals for a few days or a week to survive! LOL Those are the days when budgeting is not yet part of my vocabulary.

Ha, I think I’ve also done it towards the end of the month and so have a lot of other people 🙂 I like doing it during the work week, because I’m definitely able to control my spending better compared to a weekend when I’m out and about. Good luck and make sure to update us how it goes!

No spend days are getting quite popular with the frugal crowd. As I write this it’s January 2, and most of my frugal friends and I are going for a “no-spend” January, to see if we can only get food and necessities this month. No extras what-so-ever! Should be interesting!

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Welcome

Hi, I'm Kristin! I left my day job three years ago to pursue my passion for blogging and creating an online business for myself. Now I get to share my journey with you! Grab a cup of coffee or a glass of wine and stay awhile. I'm so glad you're here! READ MORE

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